{"id":47,"date":"2015-09-08T12:31:33","date_gmt":"2015-09-08T16:31:33","guid":{"rendered":"https:\/\/elliottinsuranceservices.com\/blog\/?p=47"},"modified":"2016-09-06T14:13:23","modified_gmt":"2016-09-06T18:13:23","slug":"shopping-for-a-new-home-dirty-words-when-it-comes-to-home-insurance","status":"publish","type":"post","link":"https:\/\/elliottinsuranceservices.com\/blog\/2015\/09\/08\/shopping-for-a-new-home-dirty-words-when-it-comes-to-home-insurance\/","title":{"rendered":"Shopping for a new home? Dirty words when it comes to home insurance…"},"content":{"rendered":"

Knob and tube, aluminium wiring, 60amp fuses, lead or galvanized plumbing, woodstove, oil heat\u2026the list goes on.\u00a0 With all these potential insurance issues, how do we know if a home is insurable?<\/p>\n

There are many items that keep insurance companies up at night.\u00a0 When it comes to home insurance, companies usually focus on what I like to call \u201cthe four pillars\u201d.\u00a0 I\u2019m not talking about Canada\u2019s Financial System, in this case I\u2019m talking about Heating, Hydro, Roof and Plumbing.<\/p>\n

In a perfect world, we would all have new central furnaces running off natural gas. \u00a0In reality we have a range of options to heat our homes.\u00a0 Insurance companies require some sort of automatic, thermostatically controlled heating unit to ensure your home doesn\u2019t freeze.\u00a0 Ideally, this system should be less than 20 years old and in proper working order.\u00a0 Natural gas, propane and electric are the preferred heat sources, but some insurance companies can insure oil heat (depending on the age and type of oil tank) and geothermal without much issue.\u00a0 Pellet stoves, woodstoves and fireplaces are ok as a secondary heat source as long as they abide by todays current code (which can be confirmed with an up to date WETT inspection).<\/p>\n

An insurance company\u2019s dream is to have 100amp or 200amp electrical service, through a newer breaker panel, using all copper wiring.\u00a0 If you have 60 amp service, a fuse panel, aluminium wiring, an electrical system over 30 years old with no updates, or the dreaded knob and tube \u2013 be sure to contact an insurance broker for advice and options.<\/p>\n

There are many different roof types.\u00a0 Usually, insurance companies assume a roof with asphalt singles will last about 20 years depending on the singles and exposure to the elements.\u00a0 Steel roofs will last longer, as may cedar or clay tile.\u00a0 Insurance companies will ask the age and type of roof, and most brokers will stop by to view the condition before writing the policy.<\/p>\n

Finally, we have plumbing.\u00a0 Copper plumbing with either copper waste pipe or ABS (black plastic) is preferred.\u00a0 If the plumbing is lead, galvanized, the white (poly B) plumbing, or hasn\u2019t seen any upgrades in over 30 years, you may want to contact an insurance broker for advice.<\/p>\n

Every company has slightly different rules when it comes to \u201cthe four pillars\u201d.\u00a0 Your insurance broker can help you navigate between different companies to find the best fit for your home. \u00a0If you don\u2019t have an Independent Broker, click here<\/a> to contact us\u00a0and we\u2019d be happy to help.<\/p>\n

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Contact us before you buy<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Knob and tube, aluminium wiring, 60amp fuses, lead or galvanized plumbing, woodstove, oil heat\u2026the list goes on.\u00a0 With all these potential insurance issues, how do we know if a home is insurable? There are many items that keep insurance companies up at night.\u00a0 When it comes to home insurance, companies usually focus on what I like to call \u201cthe four… Read more »<\/a><\/p>\n","protected":false},"author":1,"featured_media":48,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[81,79,21,76,80,20,75,78,77,74],"class_list":["post-47","post","type-post","status-publish","format-standard","has-post-thumbnail","placeholder-for-hentry","category-home-insurance","tag-aluminum-wiring","tag-electrical","tag-first-time-home-insurance","tag-heating","tag-knob-and-tube","tag-new-home-buyers","tag-oil-tank","tag-plumbing","tag-roof","tag-wett-certification"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t